INDEP. BK CORP.(MI.) NEW

The board of directors of Independent Bank has declared a quarterly dividend of $0.28 per common share. The payment will be made on August 14, 2026, to shareholders of record on August 4, 2026. The bank holding company, headquartered in Michigan, manages total assets of about $5.6 billion and operates through its subsidiary banks in Michigan's lower peninsula. » Mere på de.investing.com

Independent Bank reported Q2 net income of $81.8 million ($1.70 per share) driven by strong deposit growth, C&I loan expansion, margin improvement and $75 million of share repurchases. Commercial real estate and construction loans fell $176 million due to elevated payoffs, but management highlighted a $510 million approved commercial pipeline and expects paydowns to normalize. The bank announced a new $200 million buyback program, maintained fourth-quarter targets of 1.4% ROA and 15% return on tangible capital, and kept margin guidance at 3.90%–3.95% (likely at the low end). » Mere på finance.yahoo.com

Independent Bank's stock rose to a 52-week high of $87.01 and delivered a one-year total return of 37.15%. In the first quarter the bank reported adjusted earnings per share of $1.68 (in line with expectations), revenue of $370.18 million (well above consensus) and net income of $79.9 million. Independent Bank has raised its dividend for 15 consecutive years, will pay $0.64 per share on July 9 and currently offers a dividend yield of around 3.0%. A fair-value analysis currently rates the bank as slightly overvalued; market capitalization is about $4.2 billion. » Mere på de.investing.com